The company could not confirm whether Pun has been detained or placed under “house arrest” in accordance with local laws as per news reports. However, it confirms that Pun is currently staying at an accommodation provided by the relevant authorities and is expected to remain there until the authorities complete their queries.
Yoma reiterates that no charges have been filed against Pun.
The company believes that there is no material impact on Yoma’s financials, operations and businesses arising from this, given its day-to-day operations continue to be managed by CEO Melvyn Pun as well as other key management personnel and relevant business division heads.
It also highlights that father and son duo has been able to communicate with each other.
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Shares in Yoma closed 1.1 cent higher or 8.7% up on July 18 at 13.7 cents.
